successful claim on policy/any grounds for repayment?

lucorader

Hi All...new poster to forum.I am currently in receipt of PPI cover benefits since my position of empoyment was made redundant towards the end of last year.I expect to receive another three (3) payments which will be the maximum entitled (12 months) under the policy.I read in MSE guide to PPI that even if a policyholder has had cause to claim on the policy and irrespective whether the claim was successful or not...there still are possible grounds for applying for reimbursement.Can anyone shed any light on this as MSE stated the chances of a positive outcome (for the claimant) are as yet unclear.I am still actively seeking employment and of course the final 3 payments would only be payable if my employment status remains as is.Thanks...in anticipation.

di3004

lucorader wrote: »

Hi All...new poster to forum.I am currently in receipt of PPI cover benefits since my position of empoyment was made redundant towards the end of last year.I expect to receive another three (3) payments which will be the maximum entitled (12 months) under the policy.I read in MSE guide to PPI that even if a policyholder has had cause to claim on the policy and irrespective whether the claim was successful or not...there still are possible grounds for applying for reimbursement.Can anyone shed any light on this as MSE stated the chances of a positive outcome (for the claimant) are as yet unclear.I am still actively seeking employment and of course the final 3 payments would only be payable if my employment status remains as is.Thanks...in anticipation.

Hi there

I am aware that even is a successful claim have been made, that people have still been successful on making a ppi reclaim, this will then depend on the reasons, for example on guessing - maybe it protected you for one thing and not the other where then it would be worthless to you.

If this is the case for you follow the guidelines of reclaiming here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

If you require any help from here then give a yell.;)

dunstonh

If the complaint is successful, then the amount of any payout you get under the claim will be deducted from the redress payment. This is often more than the redress payment and results in zero money being paid.

Whilst you can complain, obviously some of the things people complain about wont apply to you. for example, you can say you were not eligible. You can't say you wouldnt benefit from it and you can say you didnt know you had it. Your complaint would also be looked at more closely than someone that hasnt had a claim as it looks suspiciously like a try-it-on complaint.

marshallka

dunstonh wrote: »

If the complaint is successful, then the amount of any payout you get under the claim will be deducted from the redress payment. This is often more than the redress payment and results in zero money being paid.

Whilst you can complain, obviously some of the things people complain about wont apply to you. for example, you can say you were not eligible. You can't say you wouldnt benefit from it and you can say you didnt know you had it. Your complaint would also be looked at more closely than someone that hasnt had a claim as it looks suspiciously like a try-it-on complaint.

Not all the time dunstonh is the amount of payout more than the redress. If I had made a FULL 12 months claiming on our policy it would have meant £2375 and the FULL cost of the single premium was £9000 so a HELL of a difference.

If its a single premium its a rip off mostly and a cheaper product (cancellable and incurring no interest) would have been a "cheaper" option. If you were not offered a choice of a cheaper option even if you wanted insurance then you can always make the complaint on that basis I thought??

dunstonh

marshallka wrote: »

Not all the time dunstonh is the amount of payout more than the redress. If I had made a FULL 12 months claiming on our policy it would have meant £2375 and the FULL cost of the single premium was £9000 so a HELL of a difference.

If its a single premium its a rip off mostly and a cheaper product (cancellable and incurring no interest) would have been a "cheaper" option. If you were not offered a choice of a cheaper option even if you wanted insurance then you can always make the complaint on that basis I thought??

True. I keep forgetting about single premiums being that large. I was thinking monthly.

lucorader

Many thanks di3004/marshallka/dunstonh for your various comments.

di3004

lucorader wrote: »

Many thanks di3004/marshallka/dunstonh for your various comments.

Your very welcome.;)

amersall

I won a ppi mis sell with the yorkshire bank last year and that policy had been claimed on. The win was reduced by the amount that had been claimed. Good luck with yours.